Additional Options for Receivables Transaction Review and Control

Control the completion of imported third-party transactions. Configure and assign a transaction source and transaction type to specific sets of imported transactions for review and approval after transaction creation and before transaction completion. In addition, approvers can review Pending Approval transactions and their payment schedule before transaction completion. These enhancements provide additional control options for Receivables transactions, building on the Receivables Transaction Review and Control feature from update 24D.

Feature highlights:

• Control completion of third-party transactions created using the Import AutoInvoice process.  
• View the Pending Approval transactions from the Transaction Approval info tile in the Billing work area. The info tile only displays Pending Approval transactions for designated approvers.
• Withdraw Pending Approval transactions if they require additional updates. 
• View the payment installments for Pending Approval transactions. 
• Sweep Pending Approval transactions to the next accounting period. 
• Configure rules using the SRC configuration rules spreadsheet with validation checks added for verification. 

Review and Control of Imported Third-Party Transactions

Use the Create Transaction Source page to create a transaction source enabled for transaction control and completion. Assign this transaction source to a run of the Import AutoInvoice process. AutoInvoice will set all imported transactions to Pending Approval status.

Transaction Source setup

Note: You must create new transaction sources for control of transaction completion. You cannot update predefined transaction sources.

Transaction Approval Info Tile

Transaction Approval Infotile

Approvers use the Transaction Approval info tile to review transactions that are pending their approval.

Depending on the type of control, approvers will see the following transactions:

• User-Based control: Pending Approval transactions available for review to approvers assigned to rules in the SRC spreadsheet template.
• Role-Based control: Pending Approval transactions available for review to approvers with the Approve Receivables Transaction privilege.

Withdraw Pending Approval Transactions

Withdraw Pending Approval transactions

Use the Withdraw button in the Review Transaction page to withdraw an invoice or credit memo that is pending approval. After making any corrections, the transaction can be resubmitted. The Withdraw button is exposed to the user who manually created the invoice or credit memo, or the user who created invoices and credit memos from a run of the Import AutoInvoice process.

Payment Schedules for Pending Approval Transactions

Review Installments window

Use the Review Installments window in the Review Transaction page to view the payment schedules for transactions Pending Approval. The window displays the due date and original amount for each installment, and the total for all installments.

Sweep Pending Approval Transactions

Use the Sweep Subledger Transactions to Another Period process to include a sweep of Pending Approval transactions to a future accounting period.

The process now has an additional option to sweep Pending Approval transactions. You can sweep Pending Approval transactions only if the parameter Sweep Pending Approval Transactions is set to Yes. The default value is No.

Sweep Subledger Transactions to Another Period process

You can’t close a Receivables accounting period with invalid transactions or Pending Approval transactions. If you can’t approve all Pending Approval transactions before period close, then include them in the sweep to a future accounting period.

To sweep Receivables Pending Approval transactions to a future accounting period:

• Select Receivables in the Subledger Transactions parameter.
• Select the ledger.
• Select the Close Pending accounting period from which to sweep transactions.
• Select the Open or Future Enterable accounting period to sweep transactions.
• Select Yes in the Sweep Pending Approval Transactions parameter.
• Select the Execution Type. You can review the transactions without sweep or sweep the transactions to the selected accounting period with or without review.

Business benefits include:

• Receivables managers and financial controllers can oversee the accuracy of all transactions imported from third-party system, before completion and delivery to the customer.
• Approvers can view only their Pending Approval transactions with the Transaction Approval info tile. This will reduce the time to search and review their specific transactions. 
• The cycle of review and approval of pending approval transactions is reduced with the ability to withdraw the transactions to make additional updates prior to approval. 
• The approval rules spreadsheet (Simplified Rules Configuration spreadsheet): 
  • Provides simple setup and management of approval rules.
  • Saves time and effort when managing a large number of approval rules.

Steps to Enable

You don't need to do anything to enable this feature.

Tips And Considerations

• Transaction completion control is only available for Invoices and Credit memos. It is not available for Debit Memos and Chargebacks. 

• This feature supports review and control of third-party transactions imported using AutoInvoice. It does not support review and control of Oracle upstream product transactions imported using the same process. 

• If tax processing on an invoice or credit memo is managed by an external tax partner, then these transactions will follow the standard completion process without approval. If Transaction Completion Control is enabled on the transaction source, this setting will be ignored.

Key Resources

• For an overview of how to configure approval rules using Simplified Workflow Rules Configuration feature, refer to Simplified Rules Configuration Support page.
• Control of Transaction Completion Overview
• Control of Transaction Completion Setup
• External Control of Transaction Completion
• Role-Based and User-Based Control of Transaction Completion
• AutoInvoice and Control of Transaction Completion

Access Requirements

1. To approve Receivables transactions, you need the following privilege:

• Approve Receivables Transaction (AR_APPROVE_RECEIVABLES_TRANSACTION_PRIV). 

2. To force approve Receivables transactions, you need the following privilege:

• Force Approve Receivables Transaction (AR_FORCE_APPROVE_RECEIVABLES_TRANSACTION_PRIV) 

     You must create custom roles with the above privileges to approve or force approve Receivables transactions.

3. To setup transaction sources, transaction types and simplified approval rules you need the following privilege:

• Set Up Receivables Batch Source (AR_SET_UP_RECEIVABLES_BATCH_SOURCE_PRIV)

This privilege is also assigned to seeded Financial Application Administrator (ORA_FINANCIAL_APPLICATION_ADMINISTRATOR_JOB) job role.

4. To create Receivables transactions, which is an existing functionality, you can continue with your custom roles or the predefined Receivables Manager job role

(ORA_AR_ACCOUNTS_RECEIVABLE_MANAGER_JOB).